Insurance company report on claims paid

Mon, 14 Apr 2008

Reports in the life insurance news today reveal that Zurich have published results of their critical illness claims, not to mention their total payout for 2007. The insurance company is the latest in a string that have defied the insurance trade body, the Association of British Insurers, to publish figures.

Zurich revealed that total payouts were just under £40 million, the company paying out on 710 claims during 2007. some 20 per cent up on 2006. In the critical illness insurance field, Zurich denied 12% of claims, with 3% related to non-disclosure.

Phil Brown, of Zurich UK Life, reportedly commented: "We have robust underwriting processes in place yet few things are ever perfect. We have done much to ensure consumers understand the products they buy and how they exactly work and we will continue to do this. Consumers may, understandably, be embarrassed about certain things such as mental health issues and we must be sensitive to this. Consequently clients can now contact our consultant doctors directly ensuring total confidence and discretion."
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